Rather Depressing Trend

Skate’s Art Market Research, which has observed the sector since 2004, recently published the first part of its ‘2012 Annual Art Investment Report’, which examines its Top 5000 ranking of the world’s most valuable works of art as determined by public auction price. In this latest report, the Skate’s team address the various changes that occurred in this premium segment of the art market by comparing the sector’s performance to 2011 as to artist rankings, sales volume and value, investment performance, and general changes in the ranking structure.

As reported by Forbes earlier this month, the Skate’s findings point at a new trend in the art investment sector. The conclusion of the Skate’s analyst team is that fewer yet wealthier people are buying more expensive art from a limited selection of established names. Confirming the trend, the total capitalisation of artworks in the research firm ranking climbed nine per cent in 2012, while the number of new artists appearing in the ranking declined to 38 in the past year from 81 in 2011.

Returns on Repeat Sales Down

Sales for the priciest of artworks ranked in Skate’s Top 5000 fetched $2.3 million (£1.4 million) and above, totalling $33.3 billion (£21.1 billion), with painters Gerhard Richter, Pablo Picasso and Andy Warhol leading the pack for most auction sales overall. Joining Richter, Warhol and Picasso, Jean-Michel Basquiat was amongst the artists in the category of most repeat sales above the $2.3 million mark in 2012, where only 118 sales of artworks in the ranking had appeared at auction before. The weighted average return on those repeat sales was 4.87 per cent, down from 7.2 per cent in 2011, with an average holding period for those works of 9.3 years.

2012 Biggest Gains and Losses

Skate’s art investment report also tracked the repeat sales in 2012 which generated the greatest financial gains or losses for their former owners. The highest return on a repeat sale was produced by Italian-born painter Giuseppe Castiglione whose work “An Imperial portrait of Consort Chunhui” generated a return on investment of 46 per cent after a seven-year holding period, selling for $4.5 million (£2.8 million). Not everything made money though. One notable loss was produced by Marc Chagall’s “La Musique” which sold for $2.1 million (£1.3 million) in 2012, producing for its vendor a 25 per cent loss after a one-year holding period.

As announced earlier this month, Skate’s will publish its ‘2012 Annual Art Investment Report’ in three parts. Towards the end of this month, the research group is set to publish the second volume which will focus on the global art industry, while the final part is expected to cover Skate’s predictions for 2013.

You can learn more about art investment here

Investment is the buzz word nowadays and with the volatility and the uncertain global situations, it would be a boon if investments would ensure that you get consistent income over life time, especially when you are nearing your retirement years.  This is where financial institutions like Banks try and sell Annuities. Annuities are financial instruments which provide the benefit of interest accrual along with the benefit of deferred tax.

This means that while the investment accrues compound interest over the course of few decades, there is just a one time tax at the time of withdrawal. The biggest benefit is that the interest is accrued until an age of 80 years or even more, perhaps the longest amongst all other forms of investment.

In a usual process, a bank representative sells annuities of the insurance company which has tied up with the bank. Even though annuities are a safe bet, there are many cases where unsatisfied consumers choose to withdraw from the product which has made this perception rife “Don’t Bank on Annuities”.

Are annuities really not that good?

First and foremost, annuities are not bad and offer unbeatable features in some respects vis-à-vis other products. But, almost selling of any other financial product, there are some agents who abuse the product as they are offered high commissions for it.

Bank Annuities

Earlier, banks used to offer annuities to a customer who wanted a little more than a deposit account. Banks take licenses so that some of their employees can sell the products. Upon successful sale, the employee is rewarded either through bank’s incentive program or through commission.

This results in twin benefits to the bank. The bank is not only able to generate additional revenues but also simultaneously able to maintain its relationship with the customer. Earlier, annuities were offered as the default investment option to consumers, but with the changing trends and newer products, banks with insurance licenses in the modern day world can offer a variety of options to customers.

Question the intent

Unless you have an old and trustworthy relation with your bank, you must raise questions if someone is trying to sell you an annuity scheme. For instance, one can ask why annuities are recommended and not other financial products? You can also ask whether the person selling the scheme has the relevant expertise to give you adequate information or whether the person has the license to provide something other than an annuity. This will only help you in having a better understanding of what you are investing into.

When it comes to putting your faith in money matters, having clarity will help you in achieving financial goals.

An honest person will guide you by explaining both the pros and cons as well as any alternative strategy which maybe better than annuity scheme. What must be really emphasized is that a customer must be made to understand everything.

Conclusion

Annuities were one of the first products which featured into the savings cum investment category. But, some unscrupulous elements have started making investors believe not to bank on annuities. If you can do a bit of due diligence and follow some of the above mentioned guidelines, this can prove to be the safest investment when it comes to providing rich returns.

This post is contributed by Adam Anderson. He has been using payday loans as one of the fastest option to get rid of his financial crunches.

One thing that always seems to be on everyone’s mind is taxes. Whether you are filing your tax return or are curious about a tax-related matter that applies to you and your business, you should consider talking to a tax consultant who is highly experienced in a wide variety of tax-related issues.

Prepare and File Tax Returns
Many people have a difficult time filing their tax returns on their own, and some count on software programs or large tax preparation chains for assistance with their taxes. If you are looking for someone who can help you with your tax return, you should consider contacting a tax consultant; he or she can make sure that you file for any refunds or credits that you qualify for, and a tax consultant can also help ensure that your tax return is filled out accurately, which can help prevent you from getting audited or getting in trouble with the IRS.

Give Help or Advice
There are times when taxes can be complicated and confusing, regardless of your tax situation. Fortunately, you can go to a tax consultant for advice about taxes; in many cases, their expertise can help you out greatly.

– If you are filing your personal taxes and are unsure of what type of deductions you should file for, whether you should file your taxes with your spouse or what forms you will need to fill out, a tax consultant can help.

– Filing taxes if you are self-employed can be challenging, and it can be easy to miss out on deductions and credits that you qualify for. A tax consultant can assist you and answer any questions that you might have.

– If you have trouble with nearly any part of filing your taxes, such as how to file taxes for your business or whether or not you qualify for a certain type of deduction, a tax consultant can give you the advice that you need.

– Business owners often wonder about various tax-related matters, but having a tax consultant on speed dial can help.

Assist with Audits
Going through the process of being audited can be stressful and frightening, regardless of if you are a business owner or an individual. You might not know how to handle the situation, but a tax consultant can help steer you in the right direction. Having a tax consultant by your side can not only help prevent you from making mistakes or getting in trouble with the IRS, but it can also give you peace of mind during a scary and unsettling time.

The truth is, tax consultants do practically anything when it comes to helping their clients with tax-related matters. Some work specifically for certain firms and companies, and others do work for both individuals and businesses alike. If you think you need help with tax matters, don’t be afraid to contact a tax consultant for assistance; in the long run, you are sure to be glad that you did.

Sally is a content specialist for FCTC, FCTC can provide tax investigation insurance to help your business and clients through any HMRC tax enquiry, visit FCTC.co.uk to find out more about tax insurance.

In the world of property and real estate, there are plenty of myths surrounding the purchase of a new home for your family. Some people believe that homes are consistently overvalued; others won’t touch auctions no matter how much their life depends on it. However, one of the biggest myths out there is that there is no optimal time to buy a new piece of property.

When it comes to getting the best price for your property, timing isn’t everything but it certainly is a crucial component – if you play your cards right, you could save thousands, or even tens of thousands, on your next property.

Want to know more? Here are the best and worst times during the year to buy property.

Christmas Cheer

Christmas is the season of giving, and this is just as applicable when it comes to real estate. If you’re trying to drive a bargain and the sellers seem to be as negotiable on price as Louis Vuitton, the best time to make your move is about a week before Christmas. Sellers are very aware that people often go away for Christmas and the New Year, and therefore their property won’t get as much attention as it has during previous weeks. Plus, people tend to let their softer side come out during the silly season – do the words “honey, let it go – it’s Christmas” ring any bells to you?

Jubilance in January

It seems that no matter which country you’re in, January is one of the best times in the year to buy property. Why, you ask?

After spending money on Christmas presents and vacations, many families spend January lying low with minimal spend – and this means people who are considering relocation to a new home will be waiting a few months until their bank accounts have bounced back from the holidays. Many sellers don’t want their homes left sitting on the market for an entire month, therefore many will be more negotiable on the asking price. This gives you the perfect opportunity to swoop in and nab your dream house.

Tuesdays are a winner

Yes, there is even a best day of the week to make an offer on a property. After an open home during the weekend, many buyers will make an offer on a property immediately if they are seriously interested. By the time Tuesday rolls around, if a property hasn’t had an offer, the seller will be more likely to consider your offer seriously – after all, if they decline, the property will be stuck on the market for another week at the least.

Avoid putting a spring in the seller’s step

When spring comes around and tax returns are flowing into buyers’ pockets, many are more willing to pay full price for a property they love. Spring is quite possibly one of the worst times to buy a property – there is plenty of competition on the market, but also plenty of competition for buyers who want a new home before the holiday season.

Hayley Frances is a writer who is currently looking for houses for sale in Epping. She’s in love with all things real estate and can’t wait to decorate her new home. 

When it comes to finding an investor for your business, you may have the mindset that whoever is willing to give you money under reasonable terms is acceptable.  This line of reasoning is one of the main reasons why there are so many business owners that are forced to claim bankruptcy and permanently close down their business within the first few years of opening.  It is imperative that you take the time to explore all available investment options before making any final decisions.  Why else is this so important?

Beware of the Rabid Dogs of the Industry

If you walked up to a house that had a sign planted on the door that said “Beware of Rabid Dog”, would you eagerly try to get inside of the house without any sort of hesitation or reluctance?  Of course not!  Even if the door was wide open, you would still proceed with extreme caution in order not to become a victim of the dog that may be lurking in the shadows somewhere.     This is the same mentality that you should have when searching for investment opportunities for your business.  There are quite a few rabid dogs that are lurking in the shadows of the industry overall, ready and waiting for your first moment of weakness so that they can pounce and attack as soon as possible.  That is why it is so important that you proceed with caution while exploring any option that may seem to look too good to be true, even if it seems as if the door is wide open for you to come right through.

Rush to the First, Miss Out on the Second

One of the main problems about the decision-making process overall when it comes to businesses is that it is extremely easy to be in a rush.  You may have an extensive list of other needs that need to be fulfilled and responsibilities that need to be handled on that particular day, so finding the first investment option that meets your needs may be the only thing that you have on your mind.  Once you find the first team of private investors that are right up your alley, for example, then you will scratch that off of your to-do list immediately and move on to the next item listed.    However, if you are in such a rush to sign up the first one that seems to meet your needs, then you are automatically shutting yourself out from any other team of private investors that may be second, third or even fourth in line after that first one that would have been an even better fit for your business.  You have to be patient and realize that waiting is all part of the process.

Do Not Hesitate to Ask for Assistance

Another valid point to keep in mind is that you do not have to make these decisions on your own.  It is recommended that you invest in the expertise of professionals that are qualified and trained to be able to help you with making these types of decisions.  They may be able to help you in finding a great deal on a great investment package that you would have overlooked without their quality guidance.

This article was written by Robert Rayford, an experienced content writer that also has a thorough background in financial consulting. He has worked directly with private investors along with other investment companies throughout his career, which is why he enjoys teaching consumers and business professionals about the ins and outs of this industry through his articles.